Can PEPE stage a 300% rebound? The key bullish pattern is revealed!
If PEPE wants to be bullish, it has to overcome several levels first! The token is now facing important resistance levels, but if the bullish momentum does not diminish, a 300% rebound may not be a dream.
Speaking of which, although PEPE has recently fallen below key support, everyone is still confident that it will rebound. Analyst Captain Faibik predicts that PEPE may rise sharply in the fourth quarter of 2024, with an increase of up to 300%!
The current price of PEPE is more than 0.0(5)7 US dollars, and the 24-hour trading volume is quite large, at 1.1 billion US dollars. Although it has fallen slightly in the past week, the market enthusiasm has not diminished.
What's more interesting is that in the PEPE futures market, there are a lot of short positions that are liquidated in the short term, totaling 20 million US dollars. This means that if the price rises, these shorts will have to close their positions quickly, which may cause the price of PEPE to rise faster.
Looking at the trading activities, PEPE has been frequently traded recently, and the number of addresses is also growing steadily, indicating that more and more people are paying attention to it. Although the growth rate of new addresses has slowed down, the overall enthusiasm is still there.
From the technical indicators, PEPE needs to break through several key levels to confirm the rebound. Now its relative strength index (RSI) shows a neutral downward trend, but the MACD indicator seems to be brewing a bullish crossover. If it succeeds, the price will be in the game.
In short, whether PEPE can have a big rebound depends on how it breaks through these levels. However, looking at the current situation, it may really give everyone a surprise!
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